Kuwait has budgeted next year’s oil price at $30


Moscow. December 30. Kuwait has budgeted for next year price its oil at about $30 per barrel, the newspaper Alrai without reference to the source of information.

The authorities are counting on oil revenues at the level made 7.16 interest billion dinars.

The Kuwaiti government intends to significantly cut fuel subsidies and implement other changes which will save from 1 billion to 2 billion dinars.

Due to the sharp decline in oil prices 9 out of 13 States of OPEC, including Kuwait, will record budget deficits by the end of 2015.

Saudi Arabia on Monday released a budget for 2016, which is designed on the basis of the very cautious oil price forecast for 10 years – from $29 to $37 per barrel of oil. The budget was taken as the weighted average cost of the basket of five grades of Saudi oil from the Arab Super Light Arab Heavy. The 2015 budget, according to experts, was based on the price of Saudi oil at $50 a barrel.